For decades, the conventional wisdom on the public offering’s place in a firm’s lifecycle has been a rather linear story. As a company matures and its capital expenditure needs increase over time, it can afford – and thus take advantage of – raising funds in public capital markets. The first time a company sells equity…
Tag: IPO
Avoiding an IPO: Spotify’s Unique NYSE Entrance
Startup unicorns, defined as those nascent companies with valuations greater than $1 billion, are increasingly undergoing IPOs and listing on national exchanges.1 Following the high-profile failures of the Snap2 and Blue Apron3 offerings, the next unicorns to turn public are being intensely scrutinized. At the end of 2017, digital music giant Spotify announced that it…